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Nepal Rastra Bank Act, 2058 (2002)

In what terms a person/individual is considered disqualified for the post of director or higher of Nepal Rastra Bank?




As other institutions in country, NRB has its own provision mentioning about what her director or higher personnel should not bring with them. The NRB Act, 2058 is the constitution of Nepal Rastra Bank, a central banking authority. The section 21 of this Act has clearly mentioned things that have to be avoided while hiring NRB executives or by operating executives in/at the position of director, deputy governor or governor.

(Source of image is internet)

The section 21 says, none of the following persons shall be eligible for appointment to the office of the Governor, Deputy Governor and Director:

(a) Member or official of a political party, or
(b) The person blacklisted in relation to transaction with a commercial bank or financial institution, or
(c) An official currently engaged in any commercial bank or financial institution, or
(d) A person having five percent or more shares or voting right in a commercial Bank or financial institution, or
(e) A person rendered bankrupt for being unable to pay debts to creditors, or
(f) A insane person, or
(g) A person convicted by a court in an offence involving moral turpitude.


Happy reading!


Kushal Krishna Kharel



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